Siim Kallas working as president of Eesti Pank issued warranties worth hundreds million dollars

In a middle of 1990-s, current European Transport Commissioner, former Reform Party chairman Siim Kallas, being the head of Estonian national bank, issued banking warranties in amount of more than one billion kroons, LETA/ERR reported referring to an article published in an Estonian daily Eesti Paevaleht.

Eesti
Paevaleht has published these details from the past of the prominent
political person this week.

According to the newspaper, about
20 years ago, being a President of Eesti
Pank (or the Bank of Estonia), Kallas issued banking warranties worth about
100 billion euros, which is quite a big amount both for those days and for
nowadays. The financial guaranties were in force until 2004; however, they were
not mentioned in accounts of the central bank of Estonia. As mentioned, the
warrants were transferred to a company Conor
Trading International Ltd.; in case of collection of those warranties the
state might have been in financial troubles because Estonia's state budget was
only seven billion kroons (450 million euros).

In an interview to the newspaper,
Kallas admits that in nineties (of the previous century) employees of the
Estonian national bank applied various financial schemes to earn money for the
state budget, still the politician denies the fact of issuing warranties.

As reported, the Reform Party would
like to see current European Transport Commissioner Siim Kallas as the new
prime minister, after the resignation of former Prime Minister Andrus Ansip.

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